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1601 Dunn Avenue

Updated Dec 4, 2024

Bilt advertisement
Joe Rubin & Richard Shuster Purchase Multifamily Property In Jacksonville For $31.75M
SOLDMultiFamily

Joe Rubin & Richard Shuster Purchase Multifamily Property In Jacksonville For $31.75M

1601 Dunn Avenue & 5928 Firestone Road

$31,750,000

$56/SF

Building Size

282,577 SF

Asset Type

MultiFamily

Closing

Mar 1, 2024

About this deal

AI

The multifamily property located at 1601 Dunn Avenue and 5928 Firestone Road in Jacksonville was sold for $31,750,000. This property spans 282,577 square feet and consists of 328 units, resulting in a price per unit of $96,799 and a price per square foot of $112.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $31,750,000
  • Units: 328
  • Square Footage: 282,577
  • Price per Unit: $96,799
  • Price per Square Foot: $112
  • Address: 1601 Dunn Avenue & 5928 Firestone Road, Jacksonville
  • Market: Jacksonville
  • Buyer: Joe Rubin & Richard Shuster - Southeast Property Group
  • Seller: Capital Property Partners
  • Brokers: Daniel Rahmani & Rubens Jourdan - Capital Property Partners

The buyer, Joe Rubin, and Richard Shuster of Southeast Property Group acquired the property from Capital Property Partners at the specified all-in price. The deal was facilitated by the brokers Daniel Rahmani and Rubens Jourdan from the selling entity, Capital Property Partners.

Players

Daniel Rahmani

Capital Property Partners

Broker

$413M

vol

16 deals

Broker

Jacksonville MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $56 per square foot on a published $31.8M for 565,154 square feet (2024).

Visit Rubens Jourdan to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.50%

Cash-on-Cash

-0.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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